Dear friends,
As you can find in the chart we are in descending chanel and untill we are here the context is good for short position and just scalping long position also. So for being in up trend at first we have to break 32K (top line of horizontal channel) and following up the price action in top of the chanel.
It seems 40K due to the previous resistance and crossing 200 Ma are making storog resistance also and for short term would be the maximum high for starting new down trend.
If we could breaking 40K in weekly time frame maybe we can say new up trend will start but we have to wait till then .
Your comments on this analaysis would be greatful for me.
As you can find in the chart we are in descending chanel and untill we are here the context is good for short position and just scalping long position also. So for being in up trend at first we have to break 32K (top line of horizontal channel) and following up the price action in top of the chanel.
It seems 40K due to the previous resistance and crossing 200 Ma are making storog resistance also and for short term would be the maximum high for starting new down trend.
If we could breaking 40K in weekly time frame maybe we can say new up trend will start but we have to wait till then .
Your comments on this analaysis would be greatful for me.